Q: What is a Life and Disability Insurance Analyst?

A: A Life and Disability Insurance Analyst is a person or organization licensed to advise any person insured under a life or disability insurance contract regarding the terms of the contract or his or her rights in respect to the contract. This license is authorized under section 32.5 of the California Insurance Code. A Life and Disability Insurance Analyst is paid a fee by a client and is strictly prohibited from receiving commissions from an insurer with respect to the insurance contract for which it is providing advice. It is important to note that “Disability Insurance,” as it is used in this context, means health insurance, long term care insurance, disability income insurance, and other types of insurance benefits including voluntary benefits.

Q: Does a Life and Disability Insurance Analyst need to be licensed as a Professional Fiduciary?

A: No. A Life and Disability Insurance Analyst’s scope of practice is limited to insurance contracts and must adhere to the standards of a trustee or fiduciary within that scope of practice. Since a Life and Disability Insurance Analyst deals with exclusively with insurance contracts and is not a conservator or guardian of a person or estate, nor a trustee, as defined in California Business and Professions Code section 6501(f), a Life and Disability Insurance Analyst does not need to also be licensed as a Professional Fiduciary.

Q: How much do your services cost?

A: We charge an initial set-up fee which includes a review all your insurance policies followed by a monthly fee for ongoing review, evaluation, and assistance with insurance claims. Fees vary according to the complexity and number of insurance policies that need to be coordinated as well as the intensity of medical services provided. Overall, our fees are very reasonable. We believe that a flat fee, established in advance of services, provides peace of mind during a difficult time. Additionally, a fixed fee eliminates any potential conflict of interest in prolonging a claims advocacy process.

Q: How do you ensure privacy and security of the claims information?

A: We abide by the HIPAA Privacy and Security standards. All of our records are secured and we utilize encryption when transmitting protected health information.